Stan Lee Socks His Former Company With $1 Billion Lawsuit

Kelly Miles |Wednesday, May 16, 2018

Stan Lee Socks His Former Company With $1 Billion Lawsuit

The curious case of Stan Lee has made waves across the Internet ever since Lee was diagnosed with pneumonia and hospitalized with an irregular heartbeat this February. He sold it to Camsing Entertainment past year. (1) forged Lee's signatures; (2) lifted Lee's signature from another document and imposed it on the Illegitimate Document; or, (3) someone, likely one of the Defendants, induced Lee to sign the Illegitimate Document by using a bait and switch tactic: "telling Lee it was something else".

It added that Lee has a history of agreeing to non-exclusive licences for the use of his name, image and likeness. Lee's Twitter account also alleged that the same entity continues to run Lee's verified Instagram and Facebook acounts.

He's now suing his former business manager Jerardo Olivarez for fraud, accusing him of mismanaging his affairs and embezzling millions of dollars, at the time when he was grieving over the death of Joan Lee in 2017.

According to the complaint, per Variety, Lee had the understanding that he was signing away a non-exclusive right to his name to the company.

Lee claims that Olivarez used his influence to convince him to sign over powers of attorney.

The comic book creator added that he doesn't recall anyone reading the "illegitimate document" to him and, because of his advanced macular degeneration (he was declared legally blind in 2015), could not have read it himself. The suit states that Lee can not recall anyone reading to him the terms of the agreement and that he did not knowingly sign the document.

"In each instance in which Lee granted a non-exclusive licence, the licensee has offered to pay a fee for the use of his name, image and likeness, but under no circumstances did Lee ever sell off his personal identity, name, and likeness, which he spent 95 years building up".

Adam D.H. Grant and Jennifer Levin Stearns of Alpert, Barr & Grant are representing Lee in the suit, which punitive and compensatory damages in excess of $1 billion.

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